Valuation of Property Surrounding a Resort Community
AbstractThis article uses hedonic modeling for valuation of real estate located near Jackson, Wyoming and agricultural property throughout the remainder of Wyoming. The attributes of the hedonic model used to value resort properties are compared with attributes of the model used to value agricultural properties. It is observed that attributes affecting the value of resort property are significantly different from attributes affecting the value of agricultural property. Resort properties, even though classified as agricultural, derive their values from scenic amenities, existence of streams, vegetation and relative location. Alternatively, agricultural lands throughout the remainder of Wyoming derive value from a combination of productive and nonproductive attributes.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal Journal of Real Estate Research.
Volume (Year): 17 (1999)
Issue (Month): 2 ()
Contact details of provider:
Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
Find related papers by JEL classification:
- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
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